u.today
During a recent appearance on the Thinking Crypto podcast, prominent ETF analyst Nate Geraci poured cold water on the odds of BlackRock launching a Solana ETF.
For this to happen, Solana needs to have CME-traded futures as well as a futures-based ETF, according to the esteemed analyst.
"So number one, we either need regulated futures contracts to be trading. So, in this case, we would need CME-traded Solana futures...Then we would probably need to see Solana Futures ETF's, and then you'd get the spot ETF."
He has pointed out that BlackRock went on record here over the past week, with multiple of their executives rejecting the possibility of launching altcoin ETFs. "So they don't seem to have an interest there," he said.
As reported by U.Today, the financial behemoth recently dismissed the idea of launching a Solana-based ETF.
Samara Cohen, BlackRock's chief information officer, delivered a blow to the fans of the most successful "Ethereum killer" by stating that such a product would not be launched in the near future.
BlackRock also implied that it would be open to launching ETFs for other ETFs.
Prior to that, it stated that it saw little demand for altcoins. However, the financial firm has also launched an Ethereum ETF. Apart from that, the financial behemoth has also waded into tokenization.
Meanwhile, the market is waiting with bated breath for the approval of two existing Solana ETF filings from 21Shares and VanEck.
"I believe the SEC has a decision to make on both the VanEck and 21Shares Solana ETF filings by March of next year...So if you do the math, I think that puts us into March of 2025," he said.